Demand For Emerging Economies Pushed Global Market For Powder Coatings To Nearly $10 Billion In 2023.

- May 07, 2018-

Frost & Sullivan's recent analysis of the "global powder coating market forecast by 2023" found that the developing markets, such as the Asia Pacific region and the rest of the world, followed the pace of developed markets such as North America and Europe, and more and more used powder coatings to replace liquid coatings. This is mainly due to the increasing purchasing power of consumers and the ensuing demand for superior products. The terminal market, including automobile, construction, household appliances and industry, is transferring to high performance powder coatings in these areas. By 2023, the growth of these industries will lead to an increase from US $7 billion 880 million to US $10 billion 610 million.

"Technological progress is an important driver of the powder coating more than $10 billion", said Soundarya Gowrishankar, an analyst with Frost & Sullivan, a far sighted science industry analyst. "Most of the innovations are solving the problem of coating on the surface of powder coatings, such as non conductive molded parts. At present, the industry has an attractive surface coating, low temperature curing coating, self repair, self cleaning, heat reflection and energy saving coatings.

Despite the competition of alternative technologies such as anodization and the price sensitivity of customers, the application of powder coatings is subject to some resistance, but the market will still have great opportunities for growth. These opportunities come from:

1. regulatory trends, because the solvent free formula of powder coatings can protect them from the emissions of volatile organic compounds (VOC) and harmful air pollutants (HAP) Regulations

2. compared with liquid coatings, powder coatings have the advantages of aesthetics, function, environment and cost.

3. smart coatings can react to color changes. They are corrosion resistant, water-resistant, and have tribological and electrical properties. These coatings are particularly popular in electronic processes, food and beverage processing equipment, and fire detection systems.

4. the manufacturing costs in various regions are relatively low, and the quality of products in the Asia Pacific market and other markets is becoming more and more important.

Due to the rapid growth of China's household electrical appliances industry, China and India will become the key engine of growth in the Asia Pacific region, and the Middle East will become a lucrative market for paint suppliers in the construction industry. "If the major opportunities in the global market are to be taken full advantage of, powder coating manufacturers need to provide a unique product to stand out," Gowrishankar said. "Although the Asia Pacific market and other markets will promote the bulk shipment of powder coatings, North America and Europe will continue to be the center of R & D activities."

In addition to the home appliance industry, powder coatings are constantly expanding into the automotive market. In the world, more and more cars, trucks and towed car parts are used as their preferred technology because of the durability of powder coatings and the high efficiency of construction. With the continuous progress of powder coating technology, its application in the field of automobile will be further expanded, and powder coating will also become the fastest growing area in the automobile coating market.

The world's powder coatings manufacturers include AKZO NOBEL, PPG, Xuan Wei, Ai Shide, tiger and RPM. In 2017, AKZO NOBEL and tigers released a new generation of binding metal powder Interpon D2015 3D Brilliance and TIGERDrylac 3D Metallics, using unique technology to make the final architectural coating show a brilliant effect, greatly improving the decoration of powder coating in the application of architectural coatings.

Moreover, the application of TIGER Drylac 3D Metallics for the development of new tiger materials is not only limited to the construction industry, but also can meet the requirements of performance and appearance in the application fields such as household appliances and automobiles.

As far as the market is concerned, the biggest advantage of powder coatings is its environmental protection. But at present, the coatings market in China is mainly solvent based coatings, and the proportion of waterborne coatings and powder coatings is still very low. Powder coatings are still more widely used in the field of architecture, automobiles and home appliances, and relatively few applications in furniture.